Question

Managers can manipulate __________________ through strategic timing of ___________________ under LIFO"

Answer 1

In business, managers can manipulate several factors including production, pricing, facilities, workforce, and product offerings. They can strategically time these actions to impact their company's inventory, sales, and profits.

Step-by-step explanation:

In business, managers have the ability to manipulate several factors to achieve their strategic goals. These factors include:

1. Expand or reduce production
2. Set the price they choose
3. Open new factories or sales facilities or close them
4. Hire workers or lay them off
5. Start selling new products or stop selling existing ones

By strategically timing these actions, managers can manipulate their company's inventory, sales, and profits. One specific method they can use is the Last In, First Out (LIFO) method, which allows them to control the timing of inventory purchases and sales to impact the company's financial statements.